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Apr 2, 2015

South Korea To Stamp Deal for PAC-3 Missile in coming months

Lockheed Martin Corp said on Tuesday it expected to complete a contract in coming months to supply an undisclosed number of PAC-3 missiles to South Korea.
It will likely take several months to complete a contract formalizing the deal, which also includes launcher modification kits and computers that tell the missile where to go and what to do.
South Korea's Defense Acquisition Program Administration on Monday announced an overall plan to buy the new missiles, and have Raytheon Co upgrade its Patriot missile defense system under a direct commercial sale.
The deal is part of an ongoing effort by South Korea to strengthen its arsenal amid growing concern about missile developments by North Korea.reuters